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Update on COVID-19 impact on HansaMatrix revenue in Q3 2020
Riga, 2020-10-06 14:18 CEST --
Considering the current developments regarding COVID-19 spread globally and in the Baltic states, with this announcement HansaMatrix informs about revenue development in Q3 2020.
Based on the preliminary data, in Q3 2020 HansaMatrix consolidated revenue amounted to 6.50 million EUR which is 6.28% increase compared to Q3 2019. Q3 2020 turnover increased by 22.91% compared to the previous quarter Q2 2020.
The business situation and the Company revenue in Q3 2020 has recovered and improved. The long-term negative COVID-19 situation impact is still present in some of the clients’ business performace, however at the same time positive market trend has emerged - increased demand in data networks and medical devices sectors.
HansaMatrix management believes that COVID-19 situation greatest impact on the Company business volumes concentrated in the period from February, 2020 until May, 2020. Revenue forecasts for the future business volumes indicate certain improvements, nevertheless due to still quite unpredictable development of overall COVID-19 situation HansaMatrix revenue going further could still be negatively influenced.
Māris Macijevskis, CFA
Management Board Member, Finance director
Phone: (+371) 6780 0002
HansaMatrix is a fast-growing, high-technology company offering product design, industrialization and complete manufacturing services in data networking, Internet of Things, industrial segments and other services to high added value business segments. In addition to complete manufacturing services of OEM products, the company offers an ODM business model to both start-up and established companies that seek product development partnerships.